Truist Securities maintains buy rating on Insmed stock with $108 target

On Tuesday, Truist Securities analysts reaffirmed their Buy rating on Insmed stock (NASDAQ: NASDAQ:INSM) with a price target of $108, aligning with the broader Wall Street consensus. Currently trading at $89.94, the stock has analyst targets ranging from $80 to $109. The analysts highlighted several upcoming catalysts that could impact the stock’s performance, including the anticipated TPIP data release in June and the PDUFA date for brensocatib on August 12, 2025.

The analysts expressed optimism about these developments, noting that while TPIP is not yet fully reflected in the current stock price, brensocatib remains the primary value driver for Insmed. They emphasized the significance of the TPIP data as a potential turning point, expecting market focus to shift toward the brensocatib approval process. InvestingPro data shows strong revenue growth of 20.77% over the last twelve months, with six analysts recently revising their earnings estimates upward.

In addition to these events, the analysts pointed to the expected Phase 2b data for brensocatib in chronic rhinosinusitis without nasal polyps by the end of 2025 as another important milestone. They believe these near-term catalysts represent significant market opportunities for Insmed.

The reaffirmed Buy rating and $108 price target reflect Truist Securities’ confidence in Insmed’s potential to capitalize on these market opportunities, with a particular emphasis on brensocatib’s upcoming FDA decision.

In other recent news, Insmed Incorporated announced positive results from its Phase 2b study of treprostinil palmitil inhalation powder (TPIP) for treating pulmonary arterial hypertension. The study met its primary endpoint, showing a 35% placebo-adjusted reduction in pulmonary vascular resistance, and achieved all secondary efficacy endpoints, including a 35.5-meter improvement in six-minute walk distance and a 60% reduction in NT-proBNP concentrations. The treatment was generally well-tolerated, with the majority of patients reaching the maximum allowed dose without significant issues. Insmed plans to engage with the FDA to design Phase 3 trials, expected to start before the end of 2025 for pulmonary hypertension associated with interstitial lung disease and in early 2026 for pulmonary arterial hypertension.

Additionally, Leerink Partners reiterated an Outperform rating for Insmed, maintaining a $100 price target, citing the potential of TPIP and the upcoming launch of brensocatib, another promising drug in their pipeline. At its recent annual meeting, Insmed shareholders approved an amendment to the company’s 2019 Incentive Plan, which aligns executive interests with those of shareholders. The election of directors Leo Lee and William H. Lewis (JO:LEWJ) was also confirmed, along with the ratification of Ernst & Young LLP as the independent registered public accounting firm. These developments highlight Insmed’s ongoing efforts to advance its treatment pipeline and maintain strong corporate governance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.